Credit Union Goes Green With Second Mortgages

Raleigh, N.C.-based State Employees' Credit Union (SECU) has recently expanded its green program offerings to include a second-mortgage product.

The product is designed specifically for energy-efficiency improvements, such as replacement windows, heating and air conditioning systems, insulation, solar water systems and Energy Star appliances. As much as $50,000 may be financed for up to 10 years, and at least 75% of the proceeds must be used for energy-efficiency improvements.

‘It is important that we provide members with beneficial loan products to help them with these endeavors, and we are very happy to have a green second mortgage available specifically for such improvements," says Phil Greer, SECU senior vice president of loan administration.

SECU already offers green loans for first mortgages.

SOURCE: State Employees' Credit Union

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